2min chapter

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Christine Kim (Galaxy) on Ethereum Shanghai Upgrade

Galaxy Brains

CHAPTER

The High Yield Savings Account

I think a couple of things that are notable is you haven't really had like a huge bid in vol or vols haven't really spiked that much in the options market. And so what that tells me is that people aren't scrambling to buy crash protection, right? So it's not like, oh, we're worried that Bitcoin is going to go back through 25K, 20K again. It's more just in a range following macro. Overnight, following macro and liquidity, liquidations. Is the best way I would interpret that. "It wouldn't shock me if we were going to consolidate for the next couple of weeks," he says.

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